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No risks of general overheating of Russian economy – minister

“There are certain segments, which may run the risk of overheating,” he said

Photo ITAR-TASS

Photo ITAR-TASS

ST. PETERSBURG, June 22 (Itar-Tass) —— There are no risks of general overheating of the Russian economy; there may be such risks in particular segments, Economic Development Minister Andrei Belousov said at the St. Petersburg International Economic Forum with regard to the International Monetary Fund (IMF) opinion.

“There are certain segments, which may run the risk of overheating,” he said. “One of them is the rapid growth of consumer loans, more than 40%, while the credit indebtedness of citizens has reached 10% of population incomes. That is a very high level for Russia.”

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